Mining Co. Accused Of Running Pump-And-Dump Scheme

Law360, New York (September 12, 2013, 7:10 PM EDT) -- A Nevada mining company was hit with a proposed class action in a Florida state court on Wednesday, alleging Liberty and some of its largest investors used celebrities such as former Denver Broncos quarterback John Elway to lend credibility to an illegal pump-and-dump scheme.

The suit, filed on behalf of Liberty Silver Corp. shareholders who purchased stock between April 2008 and October 2012, took particular aim at investment capitalist Robert Genovese, accusing him of running a stock manipulation scheme involving intricate shell corporations that traded huge amounts of...